What’s the difference between a business coach, a business advisor, and an accountant? That’s a question Collins SBA’s own business coach, Mick Denehey, sat down to discuss.
It can be lonely at the top. That’s one of the things we hear most often when we sit down with our clients.
That’s especially the case for anyone who has founded their own business. They may have done so with financial freedom and flexibility in mind, but it can be a lonely road when you have no one around you to act as a sounding board or bounce ideas off.
That’s where someone like Mick Denehey can help. A business founder, former accountant and highly experienced mentor all rolled into one, Mick has been helping businesses across Tasmania and beyond reach their goals as a dedicated business coach for more than a decade.
“I usually describe what I do, in a nutshell, as guiding owners through their business and personal growth journey,” Mick said.
“A lot of business owners are really good at what they do – and sometimes what they do is very technical – but often they haven’t taken the time to consider all the other elements that come with growing a business.”
Business coaching that fuels growth
So what are some of those elements? And what is the difference between a business coach, a business advisor, and an accountant after all?
Mick says that while it’s impossible to predict exactly how a business will perform once it’s out in the marketplace, there are a few key ingredients he works on with his clients – starting with accountability.
“As a dedicated business coach, I generally describe what I do as guiding from experience,” he explained.
“I’m not an advisor in the sense that I offer advice on really specific situations – in the way a lawyer might advise you on specific laws.
“What I’m doing is providing a range of options to my clients, based on years of experience, about the sort of pathways they can take.”
Mick says that while it’s ultimately up to business owners to make the changes they need to fuel growth, there’s one specific area he focuses on to fuel growth – accountability.
“I make it my business to keep owners accountable,” he said.
“One of the things I’ve consistently heard over the years is that if you’re a family-owned business or a solo entrepreneur and you don’t have shareholders or a board of directors to report to, it can be a really lonely existence.”
“So what I do is act as a sounding board and voice of experience in a way that’s much more productive than simply going down and talking to your mates at the pub.”
As for the difference between a business coach and accountant?
“A thorough knowledge of tax rules!” Mick laughed.
But while many of Collins SBA’s clients originally come to the firm seeking a range of taxation and financial planning solutions, Mick points out that his business coaching perfectly complements the work being done by the firm’s dedicated accounting experts.
Laying the groundwork for success
With Tasmania home to almost 44,000 businesses in 2024 alone – ranging in size from solo traders to large-scale construction firms and those operating in the retail trade and professional services – there’s never been a shortage of those seeking expert business counsel.
But while Mick typically coaches businesses that have been around for two years or more, he nevertheless works with owners across the spectrum of Tasmania’s business community.
“That’s largely because the work I do mainly revolves around people,” he admits.
“I don’t necessarily need to know all the ins and outs of your business from a technical standpoint, because what I’m doing is focusing on giving people the right tools for success.”
Mick labels that “laying the groundwork” for success – by sitting down and talking with business owners about their organisational frameworks and structures, and working out the tools and templates they need to drive month-to-month accountability.
“I’m ultimately delivering the foundational pieces to business owners to help them engage, motivate, and drive their teams,” he added.
Does your business need some coaching?
While there are plenty of major milestones along the business journey – from the whir or activity that goes into founding a firm, to the strategy behind building the business and managing the wealth derived from it, to the latter stages of retirement planning and potentially selling the business – Mick says the best time to seek business coaching is simply whenever you feel like you need guidance.
He’s helped hundreds of clients achieve their business goals over the years, using almost 40 years of first-hand experience to deliver business coaching that drives accountability and ultimately produces results.
“Working with Mick Denehey has been an incredible journey of growth for both our business and us,” explained Grant DeJersey from Trimview Windows and Doors.
“Mick’s expert guidance has helped us refine our leadership skills, streamline operations, and understand the true costs of running a business.”
Having worked with Mick for six months to align his business goals and better understand the complexities of operating in a competitive retail market, Grant is more than happy to endorse the experience.
“Mick’s meticulous attention to detail ensures that no aspect is overlooked, allowing us to address challenges thoroughly and confidently,” he said.
“He excels at removing complexities, breaking down daunting tasks into simple, actionable steps, and providing clarity amidst the noise.
“Whether it’s optimising financial strategies, simplifying processes, or uncovering hidden opportunities, Mick has been a game-changer.
“I couldn’t recommend him enough to anyone looking to take their business to the next level.”
Are you in need of some business coaching? You can contact Mick directly at mdenehey@collinssba.com.au or 1300 265 722 – and if you have other accounting, wealth and business growth needs, reach out here.
